Robert Kiyosakithe author of “Rich father, poor father‘, is bullish on silver and has advised accumulating the commodity at a time when all other assets, including bonds, stocks and real estate, are plummeting.

The view: Kiyosaki explained in his tweet that silver is moving sideways and could stay at the $20 level in the coming times. He believes the commodity has a huge upside in store for the long term.

“TIME FOR POOR TO BECOME RICH. reverse convertibles, Investment funds, ETF & real estate crash. As predicted, the middle class will be wiped out. Silver moves sideways. Silver stays at $20 for 3-5 years and then goes up to $100-$500. Everyone can afford silver, even the poor. Collect silver now,” the author said in his tweet.

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What happened: Recession fears, led by aggressive central bank rate hikes, have pushed commodity prices lower in recent months. Silver prices are currently trading above the $19/ounce mark after falling to a two-year low in early September.

Historic high: According to the Silver InstituteSilver bullion prices rose from $11 an ounce in September 1979 to $49.45 an ounce in January 1980 based on the London PM Fix during the Hunt brothers accumulation of goods. Prices eventually fell below $11 an ounce two months later, it said.

price action: That iShares Silver Trust SLV has gained more than 7% in the last five days. That ProShares Ultra Silver AGQ is up more than 15% while the abrdn Physical Silver Shares ETF SIVR, has gained over 7% in the same period…


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